Palos Verdes Real Estate

March 2022 Newsletter

Dear Neighbor:

For reasons those of us out here in the trenches have a tough time understanding, the real estate market is still strong.  I know this sounds like a broken record (is that still a useful metaphor?).  You can say it’s because of a shortage of houses for sale, but that wouldn’t be the case if they weren’t selling the minute they hit the market, or before.  Clearly there are still, despite record high prices, more buyers out there than there are sellers ready to sell.  If you’re a potential seller thinking about it, don’t think too long; having been in this business 37 years, I’ve seen a few markets like this and, as I’ve mentioned before, they tend to end just when everyone is looking the other way.  When they do, the price decline is precipitous and hard to stay ahead of, which may cause you to look back longingly at the price you could have gotten today.

I’ve included a sheet on one of my recent sales, 3829 Via Palomino, PVE.  When I met with the sellers, they were planning to wait until Spring to put the house on the market.  I advised against it on the basis that the risks of the market turning down in the near to medium term outweighed the potential that it would continue as it was.  This house sold before we put it on the market at well over the asking price, and I predict that the sellers’ decision to sell now rather than wait will be vindicated by events.

It’s been a while since I’ve included any history in these newsletters, but having lived in PV since 1947, I’ve witnessed a bit of it.  Did you know that the original water pipes in the Palos Verdes Project were made of wood – I’m talking the water supply lines, not the drain lines?  They were made like a barrel is with metal bands holding the slats together (what could go wrong?).  By the time my family arrived here in 1947 those wooden pipes had begun to deteriorate, and the tap water emerged in a lovely shade of brown.  By 1955 those pipes had been replaced, by 1958 we had trash pick-up, and by 1962 we were really stylin’ with sewers.

As one of the top 10 agent in Palos Verdes in number of houses sold, I still operate the way I have for 37 years.  No assistants, sub-agents, or secretaries – I do everything myself — which is very unusual for an agent selling the number of houses I do.  I choose to operate this way because I think if you hire me, you should get me paying full attention to your sale and applying 37 years of experience to it, and not have your transaction assigned to a relatively neophyte assistant.  This is why I’m generally in the office by 6 am and rarely go on vacation (ask my wife) — I think the sale of your house should be as important to your agent as it is to you.

Give me a call at 310 613-1076 if you want to talk; or if you don’t want to talk, email me at [email protected].  Either way, feel free to visit my website www.DanaGraham.com, and I look forward to hearing from you.

This entry was posted on Monday, March 28th, 2022 at 7:10 am and is filed under Buyers, Everything I've Written, Newsletters, Palos Verdes Information, Real Estate General Info, Sellers. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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